
% Table created by stargazer v.5.2.2 by Marek Hlavac, Harvard University. E-mail: hlavac at fas.harvard.edu
% Date and time: Sat, Sep 10, 2022 - 03:29:19 AM
\begin{tabular}{@{\extracolsep{5pt}}lcccc} 
\\[-1.8ex]\hline 
\hline \\[-1.8ex] 
\\[-1.8ex] & (1) & (2) & (3) & (4)\\ 
\hline \\[-1.8ex] 
 Underwater & 1.400 & 0.963 & 0.282 & 0.257 \\ 
  & (0.035) & (0.039) & (0.044) & (0.038) \\ 
  & & & & \\ 
 LTV fitted residuals &  &  & 1.626 & 1.553 \\ 
  &  &  & (0.077) & (0.073) \\ 
  & & & & \\ 
\hline \\[-1.8ex] 
$\hat{\alpha}_{\text{negative equity}}$ & 0.754 & 0.618 & 0.246 & 0.227 \\ 
 & (0.009) & (0.015) & (0.033) & (0.030) \\ 
Region-Year FEs & Y & Y & Y & N \\ 
CBSA FEs & Y & Y & Y & Y \\ 
Borrower and loan characteristics & N & Y & Y & Y \\ 
CBSA controls & N & Y & Y & Y \\ 
Origination year FEs & N & N & N & Y \\ 
Instrument & - & - & Cyclicality-HPI & Cyclicality-Month \\ 
First stage partial F-Stat & - & - & 667.76 & 127.7 \\ 
Log Likelihood & -467,501 & -457,570 & -454,895 & -454,647 \\ 
Observations & 1456127 & 1456127 & 1456127 & 1456127 \\ 
\hline \\[-1.8ex] 
\end{tabular} 
